University in talks over earthquake costs

The university is making statements to NZX where its bonds are listed. File photo / NZ Herald

The University of Canterbury is in talks with the Government about meeting the difference between insurance and costs it faces after the earthquakes in Christchurch.

The university is keeping bondholders informed by making statements to NZX where its bonds are listed. It said that as at May 8 it had 15,566 students, which is about 90 per cent of the number at the same time last year. The university said it had sufficient resources to manage its immediate obligations, and as at March 31 it had $67 million of working capital.

It did not provide detail about the talks with the Government about "the resources required to meet the difference between what our insurers will pay towards reduced revenue, increased costs and the costs of remediation and meeting new code requirements in Christchurch".

- NZ Herald staff